Announcement of prospectus regarding PA Resources' rights issue and new information on the Company’s medium- and long-term outlook

The board of directors of PA Resources AB (publ) has prepared a prospectus for
the purpose of the rights issue, which was announced on 5 June 2013.The
prospectus has been approved by and registered with the Swedish Financial
Supervisory Authority (Sw. Finansinspektionen). The prospectus is now available
on PA Resources’ website (www.paresources.se) and Carnegie Investment Bank AB's
website (www.carnegie.se) and will be available at the Swedish Financial
Supervisory Authority's website (www.fi.se). The prospectus can also be ordered
from Carnegie Investment Bank AB during business hours by telephone +46 (0)8
5886 9487.

The prospectus includes among other information that has not previously been
published, regarding the company's outlook in the medium- and long-term, which
is summarized below. For a more detailed description of the forecast, please
refer to the prospectus published today.

PA Resources’ medium- and long-term outlook
The board of directors and management in PA Resources is, as announced,
presently reviewing the assets, strategy and financing of the company. The
scenario presented below provides a forecast that is based on the ongoing review
at the date of publication of the prospectus.

PA Resources has a diversified asset portfolio with a number of potentially
attractive development prospects. The company's management and board of
directors has developed a scenario based on an assumption of total capital
expenditures of approximately USD 600 million until 2017, of which the majority
is related to development costs. If successful, the company would reach a
production of approximately 15,000-20,000 boepd in 2018 and it is assumed that
developments would be essentially completed according to plan. The forecast is
also based on assumptions of continued production from the currently producing
Didon and DST fields in Tunisia, and the Aseng and Alen fields in Equatorial
Guinea. In addition, the presented scenario assumes that a number of prioritized
assets will be developed into production. Such assets include, inter alia, the
Zarat field and the Elyssa field in Tunisia, which are expected to start
producing in 2017/2018 and 2016/2017 respectively. The company also expects to
bring the Danish licence 12/06 into production in 2018.

The board of directors and the management of PA Resources consider the above
forecast a realistic scenario of future production and associated investments,
based on PA Resources’ current assets. It is however important to note that the
assumptions exclude a number of opportunities, as well as a number of risks. A
summary of the opportunities and risks is presented in the prospectus.

Assuming a successful completion of the rights issue and raising of a bond loan
in an amount of up to SEK 1 billion during H2 2013, the company expects it will
be able to finance the development plan, based on minimum funding requirements
of SEK 1.7 billion, until the end of 2014. Further funding will however be
required after 2014 to finance additional capital expenditure.

Stockholm, 14 August 2013
PA Resource AB (publ)

In case of questions, please contact:
PA Resources: + 46 8 545 211 50

PA Resources AB (publ) is an international oil and gas group which conducts
exploration, development and production of oil and gas assets. The Group
operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United
Kingdom, Denmark, Netherlands and Germany. PA Resources is producing oil in West
Africa and North Africa. The parent company is located in Stockholm, Sweden. PA
Resources’ net sales amounted to SEK 2,184 million in 2012. The share is listed
on the NASDAQ OMX in Stockholm, Sweden. For additional information, please visit
www.paresources.se.

The above information has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 8.20 a.m. CET on 14 August 2013.

IMPORTANT NOTICE

The information in this press release is not for release, publication or
distribution, directly or indirectly, in or into the United States, Australia,
Hong Kong, Japan, Canada, Switzerland, Singapore, South Africa or New Zeeland.
The distribution of this press release in certain other jurisdictions may be
restricted. The information in this press release shall not constitute an offer
to sell or the solicitation of an offer to purchase any securities in PA
Resources in any jurisdiction. This press release does not constitute, or form
part of, an offer or solicitation to purchase or subscribe for securities in the
United States. The securities referred to herein may not be offered or sold in
the United States absent registration or an exemption from registration as
provided in the U.S. Securities Act of 1933, as amended. PA Resources does not
intend to register any portion of the offering of the securities in the United
States or to conduct a public offering of the securities in the United States.
Copies of this announcement are not being distributed or sent and may not be
distributed or sent to the United States, Australia, Hong Kong, Japan, Canada,
Switzerland, Singapore, South Africa or New Zeeland.

This document has not been approved by any regulatory authority. This document
is a press release and not a prospectus and investors should not subscribe for,
or purchase any securities referred to in this document, except on the basis of
information that will be provided in the prospectus published by PA Resources
and available on PA Resources’ website.

EUROPEAN ECONOMIC AREA
PA Resources has not resolved to offer to the public shares or rights in any
Member State of the European Economic Area other than Sweden, Denmark, Norway
and any other jurisdiction into which the offering of shares or rights may be
passported. Within such Member States of the European Economic Area other than
Sweden, Denmark, Norway (and any other jurisdiction into which the offering of
shares or rights may be passported) and which has implemented the Prospectus
Directive (each, a “Relevant Member State”), no action has been undertaken as of
this date to make an offer to the public of shares or rights requiring a
publication of a prospectus in any Relevant Member State. As a result hereof,
the shares or rights may only be offered in a Relevant Member State: (a) to a
qualified investor (as defined in the Prospectus Directive or applicable law),
or (b) in any other circumstances, not requiring PA Resources to publish a
prospectus as provided under Article 3(2) of the Prospectus Directive.

For the purposes hereof, the expression an “offer to the public of shares or
rights” in any Relevant Member State means the communication, in any form, of
sufficient information on the terms of the offer and the shares or rights to be
offered so as to enable an investor to decide to purchase any securities, as the
same may be varied in a Relevant Member State due to the implementation of the
Prospectus Directive in that Member State and the expression “Prospectus
Directive” means Directive 2003/71/EC including any relevant implementing
measure in each Relevant Member State.

Carnegie is acting for PA Resources and no one else in connection with the
Rights Issue and will not be responsible to anyone other than PA Resources for
providing the protections afforded to its clients or for providing advice in
relation to the Rights Issue and/or any other matter referred to in this
announcement.

Carnegie accepts no responsibility whatsoever and makes no representation or
warranty, express or implied, for the contents of this announcement, including
its accuracy, completeness or verification or for any other statement made or
purported to be made by Carnegie, or on its behalf, in connection with PA
Resources and the new shares and the Rights Issue, and nothing in this
announcement is, or shall be relied upon as, a promise or representation in this
respect, whether as to the past or future. Carnegie accordingly disclaims to the
fullest extent permitted by law all responsibility and liability whether
relating to damages, contract or otherwise which it might otherwise have in
respect of this announcement or any such statement.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect management’s
current views with respect to future events and potential financial performance.
Although PA Resources believes that the expectations reflected in such
statements are reasonable, no assurance can be given that such expectations will
prove to have been correct. Accordingly, results can differ materially from
those set out in the forward-looking statements as a result of various factors.
You are advised to read this announcement, and the prospectus and the
information incorporated by reference therein, in their entirety for a further
discussion of the factors that could affect the PA Resources’ future performance
and the industries in which the company operates. In light of these risks,
uncertainties and assumptions, it is possible that the events described in the
forward-looking statements in this announcement may not occur.